With upwards of $20 billion a year in federal payments going to a select few in farm country, you would think that these troubled counties would have a more vigorous pulse. After all, corn and wheat prices are at record highs, and big manses here and there, with Hummers in limestone driveways, indicate that somebody is doing well.
I know the observation I am about to make is not the main thrust of the article but its amazing how little the Midwest is benefiting from the boom in two of its major industries. The first is agriculture.....experiencing boom conditions because of ethanol......and yet, the benefits are barely trickling down to the average farmer.
Then there is the industrials like CAT, DE, FWLT, JOYG etc.......producers of heavy mining, agricultural and construction equipment......all located in the Midwest: WI, IND, ILL, KS, MO, OH [esp. Cleveland], etc. I have made considerable money off those stocks. And yet, city after city in the Midwest is struggling with considerable vacant buildings and land, and is losing significant portions of their population to the South, and two coasts.
Meanwhile places like FLA, AZ, CA, NV and yes, even Seattle are getting way overbuilt and congested. I don't think there is any other industrialized nation that is experiencing this kind of internal migratory behavior. Its not only unsettling but a vast waste of resources. Of course, I am one of the migratory culprits. |
